What's the 30-year mortgage rate today?

Q: What's the 30-year mortgage rate today?

The 30-year fixed mortgage rate averaged 6.84% in 2024 and has hovered in the 6.5%–7.5% range through early 2026. The annual rate is updated weekly by Freddie Mac in the PMMS series.

Q: How today's rate compares to history?

The 2024 annual average of 6.84% places today's rate in clear historical context: Below the 1971–2024 average of 7.7% — though only modestly; Above the post-2010 average of 4.6% — by 2.2 percentage points; Above the post-2000 average of 5.4% — by 1.4 points; Far below the 1980s peak of 16.63% — by nearly 10 percentage points; Far above the 2021 record low of 2.96% — by nearly 4 points The "is today high or low" question depends entirely on the reference window. By the standards of the modern series (1971–present) today's rate is below average. By the standards of the post-2008 era (when QE structurally compressed rates) today's rate is materially elevated. Neither framing is wrong; they answer different questions. For most prospective buyers in 2026, the more useful framing is: today's rate is approximately consistent with where rates would clear absent another round of zero-rate monetary policy — i.e., a "normal" rate environment after fifteen years of unusual conditions. See what's a "normal" U.S. mortgage rate for the methodology behind that conclusion.

Q: Why 2026 weekly readings have hovered around 6.5%–7.2%?

The 10-year Treasury yield — the dominant input to mortgage rates — has traded between 3.9% and 4.7% across most of 2025-26. Layered on top of a roughly 2.2-point mortgage-Treasury spread (still wider than the pre-pandemic norm of 1.7 points), that delivers headline 30-year fixed quotes in the 6.5%–7.2% range. The Fed's gradual easing cycle has eased rates modestly but not dramatically — the structural factors keeping the spread wide (prepayment uncertainty, reduced primary-dealer balance sheet) are slow to mean-revert.

Question

Short answer. The 30-year fixed mortgage rate averaged 6.84% in 2024 and has hovered in the 6.5%–7.5% range through early 2026. The annual rate is updated weekly by Freddie Mac in the PMMS series.

The Almanac tracks annual averages from the Freddie Mac Primary Mortgage Market Survey. The 2024 annual average was 6.84%. Through early 2026, weekly readings have ranged roughly 6.50%–7.20%.

What "the mortgage rate" actually means

The PMMS reports a national average for the 30-year fixed conventional conforming product, excluding points and fees. Your individual rate depends on:

Credit score: ~50 bps spread between 740+ and 660 borrowers in normal conditions; wider in stressed conditions.
Down payment: <20% triggers PMI; 20%+ avoids it.
Loan size: conforming (under FHFA limit) vs. jumbo.
Property type: primary residence, second home, or investment.
Discount points: paying points buys down the rate; the PMMS rate reflects 0.5 points typically.

For current rates

The Almanac is an editorial archive of annual data — for live rate quotes, visit Freddie Mac's PMMS dashboard or compare offers across lenders. We do not provide loan offers or pre-approvals.

How today's rate compares to history

The 2024 annual average of 6.84% places today's rate in clear historical context:

Below the 1971–2024 average of 7.7% — though only modestly
Above the post-2010 average of 4.6% — by 2.2 percentage points
Above the post-2000 average of 5.4% — by 1.4 points
Far below the 1980s peak of 16.63% — by nearly 10 percentage points
Far above the 2021 record low of 2.96% — by nearly 4 points

The "is today high or low" question depends entirely on the reference window. By the standards of the modern series (1971–present) today's rate is below average. By the standards of the post-2008 era (when QE structurally compressed rates) today's rate is materially elevated. Neither framing is wrong; they answer different questions. For most prospective buyers in 2026, the more useful framing is: today's rate is approximately consistent with where rates would clear absent another round of zero-rate monetary policy — i.e., a "normal" rate environment after fifteen years of unusual conditions. See what's a "normal" U.S. mortgage rate for the methodology behind that conclusion.

Why 2026 weekly readings have hovered around 6.5%–7.2%

The 10-year Treasury yield — the dominant input to mortgage rates — has traded between 3.9% and 4.7% across most of 2025-26. Layered on top of a roughly 2.2-point mortgage-Treasury spread (still wider than the pre-pandemic norm of 1.7 points), that delivers headline 30-year fixed quotes in the 6.5%–7.2% range. The Fed's gradual easing cycle has eased rates modestly but not dramatically — the structural factors keeping the spread wide (prepayment uncertainty, reduced primary-dealer balance sheet) are slow to mean-revert.

Sources

U.S. Census Bureau Survey of Construction; National Association of Realtors Existing Home Sales report; Freddie Mac Primary Mortgage Market Survey; National Bureau of Economic Research Business Cycle Dating Committee.